15
Found out pennies cost 3.1 cents to make and now I can't stop thinking about it
I was killing time at work this week, and this random article popped up while I was waiting on a ticket to resolve. Turns out it costs the US Mint about 3.1 cents to produce a single penny, and nickels cost like 11.5 cents each. So we're literally losing money on every one of those things, and there are billions of them in circulation. There's been talk of killing the penny for years, but Congress keeps it around because of rounding concerns and the zinc lobby in places like Tennessee. I dug into the numbers and the last time they tried to phase it out back in 2013 it just fizzled. Has anyone else found a random money fact that totally broke their brain like this?
1 comments
Log in to join the discussion
Log In1 Comment
wren30110h ago
Crazy how we lose money on spare change every single day. That zinc lobby must be doing something right.
10